Oct 01 2018

Trade idea for the day

USDINR: Hourly charts is indicating the intra-day bias on bullish side for USDINR. 50 period EMA support at 72.56 and along with that directional indicators DI+ is also hovering above the DI- signalling the bulls strength.

Our Preference: – Buy at 72.58-60

Target – 72.80

Stop loss – 72.50.

EURINR: A strong bull candle is formed on the hourly chart, indicating a further extension in prices. A bullish crossover between 20 period and 30

period simple moving average is about to happen. RSI 14 is also moving higher towards its 70 mark.

Our Preference: – Buy at 84.32

Target –84.60

Stop loss – 84.20

GBPINR: The pair is trading well above its 50 period Exponential Moving Average. MACD parallel with Signal line is on its way to cross above the zero-line

Our Preference: – Buy at 94.80-85

Target – 85.05

Stop loss – 94.74